Duplex with Independent
For Sale
$598,900
1436 NW 51st Ter, Miami, FL 33142
MULTI_FAMILY - Miami, FL
Property Size1,548 SF
Price / SF$386.89
Days on Market52
Property Features for 1436 NW 51st Ter
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
0104
Bedrooms
5
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 5
Subdivision
FAIRHAVEN GARDENS
Lot features
< 1/4 Acre
Standard status
Active
APN
01-31-23-014-0460
Size
1,548 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
FAIR HAVEN GDNS PB 6-76 LOT 6 BLK 3 LOT SIZE 50.000 X 110 OR 20819-0742 10 2002 4 COC 23820-2296 09 2005 1
Tax Annual Amount
3695
Legal Description
FAIR HAVEN GDNS PB 6-76 LOT 6 BLK 3 LOT SIZE 50.000 X 110 OR 20819-0742 10 2002 4 COC 23820-2296 09 2005 1
Amenities
laundry room
impact windows
air conditioning
Building Details
Year built
1926
Floors in Building
2
Listing Agency:
Grand Realty of America, Corp.
(305) 931-7878
Listed By:
Yimandra Serrano · License #3415874
(305) 384-8875
Added: Jun 26
Changed: Aug 1
Last Checked: Aug 16 at 2:06AM
MLS# A11977897
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Duplex at 1436 NW 51st Ter in Miami, FL 33142 built in 1926, offering two separate units with independent meters. The first unit features two bedrooms, a studio that may be used as an extra bedroom, a living room, a full kitchen, and one bathroom. The second unit has two bedrooms, a living room, a full kitchen, and one bathroom, along with a laundry room and ACs. The property includes a large driveway with enough space for three vehicles and a large fenced lot.
Exterior updates include a fairly new roof, impact windows, and a freshly painted full structure. Interior refresh includes new kitchen cabinets and new toilets, and appliances are included with the sale.
Both units are currently rented month to month, with tenants having the option to stay or leave at the time of purchase.
Exterior updates include a fairly new roof, impact windows, and a freshly painted full structure. Interior refresh includes new kitchen cabinets and new toilets, and appliances are included with the sale.
Both units are currently rented month to month, with tenants having the option to stay or leave at the time of purchase.
Key Highlights
- Two‑unit duplex with independent meters
- First unit: two bedrooms plus a studio that may serve as an extra bedroom
- Second unit: two bedrooms, full kitchen, living room, 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,046
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$620,920
$620.9K
Cap Rate 7%
$443,514
$443.5K
Cap Rate 9%
$344,956
$345.0K
Market Conditions
NOI Build-Up for 1,548 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$47.4K $30.60/SF
− Vacancy
−$3.0K −$1.95/SF
EGI
$44.4K $28.65/SF
− OpEx
−$13.3K −$8.60/SF
NOI
$31.0K $20.06/SF
Area
Miami, FL
Vacancy
6.37%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$620,920
Cap Rate 7%
$443,514
Cap Rate 9%
$344,956
Alternative Uses
Best Use
Multifamily LT 5
$443.5K
$388.1K – $517.4K
NOI $31,046 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$408.5K
$357.5K – $476.6K
NOI $28,597 @ 7.0% cap · market cap 4.77%
Theoretical Best
Specialty Retail
$1.04M
$914.3K – $1.22M
NOI $73,144 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with independent meters, impact windows, and a fairly new roof in Miami-Dade.
Where is this duplex located?
The property is located at 1436 NW 51st Ter Miami, FL.
What is the asking price?
The asking price for this property is $598,900.
What are key features of this property?
This property features: Two‑unit duplex with independent meters; First unit: two bedrooms plus a studio that may serve as an extra bedroom; Second unit: two bedrooms, full kitchen, living room, 1 bathroom
